first direct has reduced the cost of borrowing on selected loan amounts for new and existing customers, in some cases by as much as 1.2% APR.
Customers looking to borrow between £5,000 and £6,950 can get a rate of 6.1% APR (a 1.2% reduction) while loans between £7,000 and £25,000 come with a rate of just 4.0% APR.
Example repayments: £5,000 over three years = £151.98
These rates are only available to customers who have a first direct current account (one can be opened on application), and borrowers should remember that rates are representative and dependent on individual credit ratings. Minimum income and age restrictions apply.
Why we like it…
This loan is particularly competitive at amounts of £7,500+ but holds it own at lower borrowing levels too, making it a cost-effective choice across several tiers.
Four Moneyfacts Stars have been awarded.
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